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November 7, 2015 
Daniel Lee The latest saga regarding Payment Protection Insurance (PPI) found new problems with complaint handling procedures by many financial firms. The Financial Conduct Authority’s (FCA) latest report shows two thirds of the 18 companies spot checked have been handling PPI complaints unfairly, leaving just six to be delivering fair outcomes. The companies in question were mid-sized […]
November 7, 2015 Daniel Lee Talks by various Banks regarding an agreed deadline for the end of Payment Protection Insurance (PPI) compensation failed due some of Britain’s largest lenders being unable to reach a decision. This means that many of Britain’s largest lenders could potentially face several more years of handling PPI Claims as the industry continues to be flooded with customers reclaiming […]
November 7, 2015 Daniel Lee Lloyds Banking Group has reportedly been fined up to £4.3 million by the City watchdog today it was revealed. Approximately 140,000 Lloyds TSB customers have had their payment protection insurance (PPI) compensation payments delayed. The customers were not paid redress within 28 days of receiving a decision letter and almost 9,000 had to wait more than six months […]
November 7, 2015 Daniel Lee The FSA found failings in approximately 40 per cent of telephone sales of credit card PPI made by Egg between January 2005 and December 2007. Egg sold PPI either when receiving a customer services call, or when making a sales call to a new customer. When Egg customers said they did not want PPI on […]
February 16, 2017 Daniel Lee Welcome Finance in default The Financial Services Compensation Scheme (FSCS) faces a fresh wave of payment protection insurance related claims after declaring loan provider Welcome Financial Services Limited (WFSL) in default. The FSCS has said that the firm is unable, or likely to be unable, to pay claims against it in relation to what it described […]
November 7, 2015 Daniel Lee In February 2007, the Financial Services Authority fined Capital One Bank £175,000 for failing to have adequate systems and controls for selling Payment Protection Insurance (PPI) insurance and for failing to treat its customers fairly. From January 2005 to April 2006, Capital One failed to ensure that 50,000 customers received important information about the policy […]
